Taiwan's First Localized "Changfang & Xidao Offshore Wind Farm" Holds Inauguration Ceremony

Changfang & Xidao Offshore Wind Farm (CFXD), invested and led by Copenhagen Infrastructure Partners (CIP), held an inauguration ceremony today (22nd). Nearly 200 distinguished guests attended to witness the inauguration of the wind farm. , including Taiwan's Vice President Louise Hsiao, wind farm shareholders, syndicate banks and export credit representatives, supplier partners, and various dignitaries.

CFXD offshore wind farm is located off the coast of Changhua and was allocated a 600 MW grid connection capacity in the 2018 Bureau of Energy, MOEA offshore wind auction. The wind farm comprises 62 Vestas V174-9.6MW turbines, with 62 jacket foundations supplied by Century Wind Power Co., Ltd. (CWP). The first turbine of the wind farm began generating power in 2022, estimated to provide clean energy to 650,000 households in Taiwan annually.

The project is jointly owned by CIP, PTT Public Company Ltd. (PTT) subsidiary Global Power Synergy (GPSC), Taiwan Life Insurance, and TransGlobe Life Insurance. The project financing was led by CTBC Bank (China Securities and Investment Corporation) and MUFG Bank (Mitsubishi UFJ Financial Group), with sovereign export credit guarantees from 7 countries in Europe and Asia. In total, nearly 30 banks from Taiwan, the US, Europe, and Asia provided syndicated loans, earning more than six international financial awards.

CFXD is the first project in Taiwan's offshore wind development history to fully implement the highest localization ratio and complete it on schedule. CFXD signed the NTD 16.5 billion jacket foundations supply contract with CWP, the highest single contract amount in Taiwan's offshore wind history, with 14 localized wind turbine components. The wind turbine industry chain initiated by CFXD developed approximately 80 hectares of port area land in Taichung Port, forming an industrial cluster to support the subsequent supply for all wind farms across Taiwan.

In maritime engineering, Boskalis HwaChi Offshore Wind Taiwan (a joint venture subsidiary of Hwachi Offshore Contractor Company and Boskalis) was responsible for the transportation and installation of jacket foundations, while CSBC-DEME Wind Engineering (CDWE) undertook the offshore transportation and installation of turbines, mobilizing Fred. Olsen's wind turbine installation vessel. During the construction process, the project team successfully transferred international experience and technology to Taiwan, helping local manufacturers overcome learning curves and catalyze the maturity of the industry chain.

Vice President Louise Hsiao emphasized Taiwan's integral role in the global supply chain and its dedication to advancing the goal of global net-zero transition. She underscored the pivotal role of offshore wind power in this energy transition. While not directly involved in the wind farm's construction, she expressed gratitude for the opportunity to witness this significant milestone.

Christina Grumstrup Sørensen, CIP senior partner and founder, stated that CFXD is CIP’s first completed offshore wind farm in the Asia-Pacific region. It not only brings clean energy but also promotes industrial transformation. Such localization experience has shown extraordinary value in the subsequent wind farm development and construction.

Dennis Sanou, CEO of CFXD, expressed appreciation for the close cooperation and high professionalism of the project team and supplier partners. They overcame industry challenges due to material and labor shortages caused by the pandemic and completed the construction on schedule despite environmental factors like typhoons and earthquakes, demonstrating the team’s proactive responses and coordination.

Marina Hsu, Managing Director of CIP Taiwan, emphasized that "following energy policies and facing challenges head-on" is CIP's mission in Taiwan. CFXD can provide clean energy to 650,000 households in Taiwan, and the team will do their utmost to complete the Electricity Business License (EBL) review, aiming for full commercial operation in the near future.

A GPSC representative stated that considering Taiwan's immense wind power potential, government green energy policies, and CIP’s extensive experience, GPSC decided to invest in CFXD in 2021. The timely completion of the wind farm proves the correctness of that investment decision.

Taiwan Life Insurance stated that the CFXD project marks the first time Taiwan Life played the dual role of investor and financier. The project was assigned high localization requirements, and it is gratifying to see it overcome various localization challenges and achieve the milestone of wind turbine installation completion.

TransGlobe Life Insurance stated that CFXD is the first successful example in Asia of a life insurance company directly participating in offshore wind development. In the future, the company will continue to leverage its influence as an institutional investor to support net-zero transformation, further driving the sustainable development of the industry, economy, and society as a whole.